Carvana Co. $CVNA Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in Carvana Co. (NYSE:CVNA) by 112,145.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,143 shares of the company’s stock after buying an additional 102,052 shares during the quarter. Bessemer Group Inc.’s holdings in Carvana were worth $38,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVNA. SBI Securities Co. Ltd. increased its stake in Carvana by 11.3% during the third quarter. SBI Securities Co. Ltd. now owns 463 shares of the company’s stock worth $175,000 after purchasing an additional 47 shares during the period. Savant Capital LLC increased its stake in Carvana by 2.8% during the 3rd quarter. Savant Capital LLC now owns 2,988 shares of the company’s stock worth $1,127,000 after buying an additional 82 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Carvana by 24.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 121,468 shares of the company’s stock worth $45,823,000 after buying an additional 23,697 shares in the last quarter. Premier Path Wealth Partners LLC purchased a new position in Carvana in the 3rd quarter valued at approximately $242,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Carvana by 181.5% in the third quarter. Allianz Asset Management GmbH now owns 54,096 shares of the company’s stock worth $20,407,000 after acquiring an additional 120,449 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CVNA shares. Argus initiated coverage on Carvana in a research note on Monday, December 15th. They issued a “buy” rating and a $500.00 price objective on the stock. Stephens increased their price target on Carvana from $454.00 to $519.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $460.00 price objective on shares of Carvana in a research report on Thursday, October 30th. Wedbush raised their target price on shares of Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Finally, Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $474.27.

Carvana Price Performance

CVNA stock opened at $384.30 on Friday. The business has a 50 day moving average price of $435.88 and a 200 day moving average price of $380.37. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The stock has a market cap of $83.60 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 0.96 and a beta of 3.57. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $486.89.

Insider Buying and Selling at Carvana

In other news, insider Thomas Taira sold 1,174 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $447.00, for a total value of $524,778.00. Following the completion of the transaction, the insider owned 68,252 shares in the company, valued at approximately $30,508,644. This represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 40,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the transaction, the insider directly owned 191,106 shares in the company, valued at $90,821,215.44. This trade represents a 17.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 432,756 shares of company stock worth $183,581,477. 17.12% of the stock is owned by insiders.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.